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May 22, 2023
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if we breach the debt ceiling. i understand wanting to use it now and are we really going to sit there and let bills go unpaid and not even trying this? >> we take the debt ceiling seriously as constraint on our ability to pay bills that are coming due and my assumption is that if the debt ceiling isn't raised there would be hard choices to make about what bills go unpaid and -- >> so there will be bills. >> -- >> what you're saying is, if the debt ceiling is not raised that there will be a default on president biden's watch, even though he doesn't want it, you'll allow a default on some debt if congress doesn't raise this debt ceiling. >> well, there will be some bill. we have to pay interest and principal on that standing debt. we also have obligations to seniors who count on social security, our military that expects pay and contractors who provide services for the federal government and some bills have to go unpaid. >> so there will be some bills unpaid if the debt ceiling is not raised? >> yes, and many people
if we breach the debt ceiling. i understand wanting to use it now and are we really going to sit there and let bills go unpaid and not even trying this? >> we take the debt ceiling seriously as constraint on our ability to pay bills that are coming due and my assumption is that if the debt ceiling isn't raised there would be hard choices to make about what bills go unpaid and -- >> so there will be bills. >> -- >> what you're saying is, if the debt ceiling is not raised...
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Jan 20, 2013
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, for example, i think the most racially divis
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the...
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Dec 22, 2013
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including in 2014, and this smacks us in the face, the debt ceiling. are they going to manage concessions before raising the debt ceiling? >> i guess i can't really speak for republicans. my thoughts are if the american people don't believe we have a debt ceiling because we always increase it, and they don't believe we have the discipline in washington. there is a positive out of what happened last week, is, yeah, we can come together and agree. what, david, i would say to you is the reason we're in trouble on deficits and debts is not because we didn't agree but because we did. we agreed to spend $740 billion we didn't have last year. we agreed to waste $30 billion as i put out the waste book in year. we agreed to continue to let medicare have $80 billion a year in fraud in it. we're going to have $80 billion a year in fraud in obamacare. we agreed to all those things. so the story coming out of washington that we don't get along, i would dispute that. we get along just fine with the status quo of the government being ineffective and inefficient. so w
including in 2014, and this smacks us in the face, the debt ceiling. are they going to manage concessions before raising the debt ceiling? >> i guess i can't really speak for republicans. my thoughts are if the american people don't believe we have a debt ceiling because we always increase it, and they don't believe we have the discipline in washington. there is a positive out of what happened last week, is, yeah, we can come together and agree. what, david, i would say to you is the...
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Jan 6, 2013
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the debt ceiling guarantees a crisis. it guarantees that the markets will all cave in on the republicans. and the republicans in the end will give up. >> let me get a break, ej, and we'll come back with you. i want to talk about the strategy, whether there's a government shutdown in the future, as well as what this fight means to the president's second term and his agenda -- fight means to the president's second term and his agenda -- guns, immigration, other thin a, at a dry cleaner, fight means to the president's secowe replaced peopleenda -- gunswith a machine.other thin a, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. you know it can be hard to lbreathe, and how that feels.e, copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd
the debt ceiling guarantees a crisis. it guarantees that the markets will all cave in on the republicans. and the republicans in the end will give up. >> let me get a break, ej, and we'll come back with you. i want to talk about the strategy, whether there's a government shutdown in the future, as well as what this fight means to the president's second term and his agenda -- fight means to the president's second term and his agenda -- guns, immigration, other thin a, at a dry cleaner,...
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Jul 25, 2011
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the debt ceiling into 2013? >> yes. the president believes that we must get this uncertainty, in order to help the american economy and help the american people, we must get this uncertainty out of the system, but at the same time, he's insisting, and senator reid put a plan forward on a super committee of the senate and the house that will deal in a very short period with the deficit. so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it. they've got an outline. there's plenty parts -- >> help me understand the timing. you're saying you want a vote that says the debt ceiling is raised until 2013. there could be this super commission that takes on the hard stuff. >> right, right. >> and when does it have to vote up or down, by when? >> if the super committee doesn't produce something that the congress approves, and my understanding is this is speaker boehner's plan -- if they don't produce something in early -- at the end of -- pardon me, at the end of '11 or '12, th
the debt ceiling into 2013? >> yes. the president believes that we must get this uncertainty, in order to help the american economy and help the american people, we must get this uncertainty out of the system, but at the same time, he's insisting, and senator reid put a plan forward on a super committee of the senate and the house that will deal in a very short period with the deficit. so, we could see serious deficit reform. senator coburn comes on next, the gang of six worked at it....
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Jan 6, 2013
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is that the strategy for the coming fight over the debt ceiling? >> well, first, these last-minute deals are no way to run the government. i can tell you that. we know what the problem is. you're going to have al simpson and erskine bowles on. they have talked about this for a couple of years now. we have a spending problem. you know, we have a debt the size of our economy, which makes us look a lot like greece. this administration has driven spending as a percentage of our economy from 21% up to almost 25%. we've resolved the tax issue now. it's over. it's behind us. we were able to get permanent tax relief for 99% of american taxpayers. and for 500,000 small businesses. so that's behind us. what's left to be dealt with is the spending. and it's a shame that the president doesn't embrace the effort to reduce spending. none of us like using these situations like the sequester or the debt ceiling or the operation of government to try to engage the president to deal with this. but -- >> but you said that was a strategy, that's what you learned. i wan
is that the strategy for the coming fight over the debt ceiling? >> well, first, these last-minute deals are no way to run the government. i can tell you that. we know what the problem is. you're going to have al simpson and erskine bowles on. they have talked about this for a couple of years now. we have a spending problem. you know, we have a debt the size of our economy, which makes us look a lot like greece. this administration has driven spending as a percentage of our economy from...
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Aug 14, 2011
08/11
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and it's true, the polls said don't raise debt ceiling. but that's why we have representatives of the people who also balance in some of the other costs to the country if you don't do that. >> i have to say, i think, you know, one of the things that happened thursday night is, i think short-term, she got the best of pawlenty, clearly, and it helped her here and got her supporters fired up. i think pawlenty, though, put her -- exposed some positions of hers, particularly on this debt ceiling. and you were questioning her on this. first of all, a majority of the house republicans, a majority of the freshmen republicans do not share the view that she has on the debt ceiling. it is a view that is way outside the, arguably, the mainstream of the house republican conference. and so, i think she's going to have a hard time. you know, her whole direction in this campaign is to try to mainstream herself, right? most of the candidates are moving to the right. she's actually really trying to say, look, i'm not the caricature, i'm not the stereotype.
and it's true, the polls said don't raise debt ceiling. but that's why we have representatives of the people who also balance in some of the other costs to the country if you don't do that. >> i have to say, i think, you know, one of the things that happened thursday night is, i think short-term, she got the best of pawlenty, clearly, and it helped her here and got her supporters fired up. i think pawlenty, though, put her -- exposed some positions of hers, particularly on this debt...
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Sep 29, 2013
09/13
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the battle over debt ceiling and what it could mean to your money. my conversation ahead with bill clinton. what the former president said about dealing with debt in washington, iran, russia and whether he would do anything differently than president obama. >>> doing well and doing good. the young enprep neuros who walked away with a prize. tastes like chicken. "on the money" begins now. >>> here is a look at what's making news as we head into a new week. we know exactly when the united states will run out of money. treasury secretary sent a letter to congress this week saying unless congress raises the debt ceiling, the treasury will have $30 billion left by october 17th and possible expenditures of 60 billion on that date. unless the debt ceiling is extending the government won't be able to borrow money and pay some of its bills. that has business cautious as john chambers told me this week. >> we see opportunities and also challenges. you know what's going on at the fed and what's going on with the debt ceiling. the impact of orders coming out of
the battle over debt ceiling and what it could mean to your money. my conversation ahead with bill clinton. what the former president said about dealing with debt in washington, iran, russia and whether he would do anything differently than president obama. >>> doing well and doing good. the young enprep neuros who walked away with a prize. tastes like chicken. "on the money" begins now. >>> here is a look at what's making news as we head into a new week. we know...
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May 17, 2023
05/23
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the president has said he will not negotiate over the debt ceiling, that the debt ceiling is not something to be ransomed, that saving or ruining the full faith and credit of the united states was not something that could even be discussed or considered. but he would be willing to talk about cuts to government programs in the future. now, a lot of this is a flip-flop from just a few years back when nancy pelosi was the speaker who wanted something and president trump was the president saying you shouldn't hold the debt ceiling hostage just because you want something. that led to headlines much like today about the speaker of the householding up progress on the debt ceiling and trump saying exactly what biden says now -- the debt ceiling should not be negotiated over. >> when they start talking about using the debt ceiling as a wedge to negotiate or things that they want, they have told me very strongly they would never use that. that's a very, very sacred thing in our country, the debt ceiling. we can never play with it. >> now, we've said this before, but it's a worthy reminder, raising t
the president has said he will not negotiate over the debt ceiling, that the debt ceiling is not something to be ransomed, that saving or ruining the full faith and credit of the united states was not something that could even be discussed or considered. but he would be willing to talk about cuts to government programs in the future. now, a lot of this is a flip-flop from just a few years back when nancy pelosi was the speaker who wanted something and president trump was the president saying...
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Sep 19, 2021
09/21
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debt ceiling context is important. we actually raised on a bipartisan basis the debt ceiling in the last congress because on a bipartisan basis we agreed on what to spend the money on. this time democrats want to increase the debt ceiling on the -- for the reconciliation bill which they're passing on a party line basis, which is going to fuel inflation if you speak to democratic economists like larry summers. wait a second. we're supposed to aid and abet party line spending which even democratic economists say will fuel further inflation. no, that's not right. if you want to come back and meet where we can actually find common ground, where we can address needs as opposed to a democratic wish list, then we'll help. not when you're just trying to tank the economy by fueling inflation to get your wish list. >> this debt ceiling has nothing to do with the reconciliation. this is about spending that's already happened. i understand the messaging you want to make clear and the issue of spending. i understand that from an id
debt ceiling context is important. we actually raised on a bipartisan basis the debt ceiling in the last congress because on a bipartisan basis we agreed on what to spend the money on. this time democrats want to increase the debt ceiling on the -- for the reconciliation bill which they're passing on a party line basis, which is going to fuel inflation if you speak to democratic economists like larry summers. wait a second. we're supposed to aid and abet party line spending which even...
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Aug 3, 2011
08/11
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more on this debt ceiling deal which is now the debt ceiling law. chuck todd with us from there. chuck, take it away. >> reporter: a detante, no more than that. and it capped off a really contentious debate and despite the bipartisan support for the deal, it's a deal nobody wants to take credit for. president obama didn't praise the deal, only express relief. >> our economy didn't need washington to come along with a manufactured crisis to make things worse. >> reporter: he called the $2.5 trillion deficit reduction package simply "a first step" and argued more must be done. >> yes, that means making some adjustments to protect health care programs like medicare so they're there for future generations. it also means reforming our tax codes so that the wealthiest americans and biggest corporations pay their fair share. >> reporter: the bill he signed in private passed the senate with a large bipartisan majority but few expressed enthusiasm. >> to say that the legislation before us is not ideal is truly an understatement. >> this bill does not solve the problem. but it, at least, f
more on this debt ceiling deal which is now the debt ceiling law. chuck todd with us from there. chuck, take it away. >> reporter: a detante, no more than that. and it capped off a really contentious debate and despite the bipartisan support for the deal, it's a deal nobody wants to take credit for. president obama didn't praise the deal, only express relief. >> our economy didn't need washington to come along with a manufactured crisis to make things worse. >> reporter: he...
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Oct 17, 2013
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the vote is under way to end the government shutdown and raise the debt ceiling. we'll continue to follow the story throughout this newscast. stay with us. >>> breaking news from the senate floor. lawmakers there just voted to and pass the bill to reopen the federal government and raise the debt ceiling. this is a short-term fix but passed the senate and now goes to the house tonight and just in time because we are just four hours from that debt ceiling expiring. of course, we'll be following this this evening and we'll bring you an update later in this newscast or during our 6:00 newscast. >>> a lot of smiles. a pleasant on tech company. veeva systems went public today and saw its stock price boom. shares started selling at $20 and by the end of the trading day, it had nearly doubled to 37 bucks a share. veeva system cloud base software is used by some of the biggest drug manufacturers like merck, eli lily and bayor. >>> two silkicon rivals will son be within shouting distance of each other. scott budman joins us from samsung to talk about growing rivalry with ap
the vote is under way to end the government shutdown and raise the debt ceiling. we'll continue to follow the story throughout this newscast. stay with us. >>> breaking news from the senate floor. lawmakers there just voted to and pass the bill to reopen the federal government and raise the debt ceiling. this is a short-term fix but passed the senate and now goes to the house tonight and just in time because we are just four hours from that debt ceiling expiring. of course, we'll be...
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Jul 31, 2011
07/11
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lawmakers have just two days to settle the debt ceiling showdown. this is "today in the bay." >>> good morning to you. taking a live look at oakland this morning, a bit of a gray start, though. by the time that the a's take on the minnesota twins, hopefully it will be a little more cheerful out there. >> i think it will be brighter. it's kind of interesting, if we do see the sun, we've got enough humidity in the atmosphere, we could fire up a couple of thundershowers, something we don't talk about a lot in summer in the bay area. this morning the marine layer is back, it is thick, it is almost 3,000 feet deep. what that means for us is the clouds are going to take their time clearing and temperatures, say it with me, will be below the average we think. we've said that a lot the last several monthst readings this morning are pretty mild. it's 62 in san jose, sunnyvale 64.1:cc 61 in oaklandnt and 5 5 in s scfrciano. eci san francisco marathon getting gngshi t mornin wheg.retreha w's w watching. fewfeay ds dnow.noweoor i tt f 've p fmo fthe soh.isturen
lawmakers have just two days to settle the debt ceiling showdown. this is "today in the bay." >>> good morning to you. taking a live look at oakland this morning, a bit of a gray start, though. by the time that the a's take on the minnesota twins, hopefully it will be a little more cheerful out there. >> i think it will be brighter. it's kind of interesting, if we do see the sun, we've got enough humidity in the atmosphere, we could fire up a couple of thundershowers,...
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Jan 14, 2013
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the debt ceiling fight that's on the horizon. is this going to impact the broad economy in the earning season, do you think? >> i guess this whole political thing is these are all the bricks in the wall of worry that equity markets are continuing to climb. you know, we know how to talk about these things, they're out there, in the media a lot. we follow them sometimes like a sport. maybe we exaggerate a little bit how much these political match nations, i don't want to minimize them but i think sometimes we miss the point that there are really good companies out there who figured out how to make really good money with all of this political noise going on. >> and yet, greg, so many potholes ahead. you know we're going to see a lot of back and forth over raising the debt ceiling, sequestration is still on the horizon now. less than two months away. the continuing resolution. i want you to take a listen to the president's spokesperson this week on the debt ceiling and get your reaction to that. >> sure. >> he will not negotiate with
the debt ceiling fight that's on the horizon. is this going to impact the broad economy in the earning season, do you think? >> i guess this whole political thing is these are all the bricks in the wall of worry that equity markets are continuing to climb. you know, we know how to talk about these things, they're out there, in the media a lot. we follow them sometimes like a sport. maybe we exaggerate a little bit how much these political match nations, i don't want to minimize them but i...
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Oct 13, 2013
10/13
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whether or not we raise a debt ceiling. you have a proposal to raise it for six weeks, a proposal to raise it to the end of january, and you have a third one where it takes it to the end of the year. second, you have a group that wants to push it out to the end of january and another group wants to push it out for a few months later. when we look back we're going to wonder how on earth could the president and others not come to some agreement when you have plausible, attainable kind of goals in front of us. two, the economy is ready to take off. you saw last week the market exploded. the biggest single gain the day of the year once it looked like a deal was within reach. last week reports demonstrated that america is now the number one interview produced in the world, about to take russia in natural gas and petroleum products, which means higher paying jobs. americans want to work. they want to get beyond this moment. it seems for those who are outside of this, and i'm not as close to washington as i was before, a deal is w
whether or not we raise a debt ceiling. you have a proposal to raise it for six weeks, a proposal to raise it to the end of january, and you have a third one where it takes it to the end of the year. second, you have a group that wants to push it out to the end of january and another group wants to push it out for a few months later. when we look back we're going to wonder how on earth could the president and others not come to some agreement when you have plausible, attainable kind of goals in...
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Jul 18, 2011
07/11
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another one said she is opposed to extending the debt ceiling. and others are saying, well, listen, maybe we can't make social security payments for a month or two, maybe we can't pay our veterans what we promised, but we'll work it out. that is highly irresponsible. what we need to do is to sit down and work together. the president has laid out a big plan. majority leader harry reid and the senate democrats have said we want to work toward a big plan to reduce this deficit by at least $4 trillion over the next ten years. >> senator durbin -- >> we've got to do this. >> my question is, is whether president obama is the one to really lead this? there are some progressives as well as republicans who say that he has been late to this negotiation, late with ideas and late to provide leadership. >> david, let me tell you, if you could have been in the white house cabinet room, as i was, for six separate meetings, and watched this president of the united states patiently listen to each member of the leadership in congress lay out their ideas of where t
another one said she is opposed to extending the debt ceiling. and others are saying, well, listen, maybe we can't make social security payments for a month or two, maybe we can't pay our veterans what we promised, but we'll work it out. that is highly irresponsible. what we need to do is to sit down and work together. the president has laid out a big plan. majority leader harry reid and the senate democrats have said we want to work toward a big plan to reduce this deficit by at least $4...
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Jul 31, 2011
07/11
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. >>> the debate over the debt ceiling marches on. joining me now are jared bernstein, former chief economist for vice president biden, along with glenn hubbard, dean of the columbia school of business, former chairman of the white house council of economic advisers. gentlemen, it's good to see you. thank you so much for joining us. >> sure, thank you. >> well, we are knocking perilously close to d-day august 2nd, the day the treasury says it will run out of the money needed to cover expenses. jared, how does this end? >> the conventional wisdom is there is a spirit of bipartisanship takes over and there it is crafted out of the boehner and reid bills. clearly, that hope has been dashed every step of the way. now as we get closer to d-day, as we put it, most people believe, and i'm one of them certainly, the president has asserted this, and by the way, leaders in both parties have as well that they're not going to breach the debt ceiling. so it seems to be a lot of last-minute leveraging negotiations. but boy, it's making a lot of peo
. >>> the debate over the debt ceiling marches on. joining me now are jared bernstein, former chief economist for vice president biden, along with glenn hubbard, dean of the columbia school of business, former chairman of the white house council of economic advisers. gentlemen, it's good to see you. thank you so much for joining us. >> sure, thank you. >> well, we are knocking perilously close to d-day august 2nd, the day the treasury says it will run out of the money...
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Jan 19, 2023
01/23
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we will talk more in detail about the debt ceiling. it's hundreds of thousands of people it would affect. >> affects everybody. >> it would be catastrophic to the economy if the federal government stops spending money. >> got to get it done. >> yep. >>> new this morning, despite layoffs nationwide, many companies cannot find enough people to fill job openings. systems often filter out candidates that lack a college degree but have qualified skills. the world economic forum estimates 1 in 3 jobs are filled by somebody with the right skills. now companies are spending more to filter out candidates. >> you have millions of people that can do the job that you need done, and you are spending money to screen them out when you can spend half of the money to let them in. >> our team on the "today" show is breaking down what you can do to make your application stand out. that's at 7:00, right after "today in the bay." >>> trending this morning, if your family is stressing you out. this is what a man tweeted out. i can't keep up with the pressur
we will talk more in detail about the debt ceiling. it's hundreds of thousands of people it would affect. >> affects everybody. >> it would be catastrophic to the economy if the federal government stops spending money. >> got to get it done. >> yep. >>> new this morning, despite layoffs nationwide, many companies cannot find enough people to fill job openings. systems often filter out candidates that lack a college degree but have qualified skills. the world...
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Oct 6, 2013
10/13
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was it the debt ceiling, the shutdown? we have earnings coming out next week as well. >> this is all about washington. i think people get worried. even what we said about the employment report that is history at that stage. the longer this goes on the more uncertainty it causes and uncertainty is toxic for the markets. it causes people to hesitate to make decisions. i don't think we'll default on the u.s. debt. even in a worse case scenario. that could happen. the treasury secretary will give priority to making sure the principal interest is paid on u.s. debt first. what we really need is a six-month cooling off period where we pass the legislation necessary to reopen the government and to deal with the debt ceiling and both sides need to pull back from this. right now we're headed for a collision which is really undermine the economy at the time when the economy didn't need it. >> david makes a really good point. if the agreement is just to increase the debt limit enough to take us down three months or even six months, i
was it the debt ceiling, the shutdown? we have earnings coming out next week as well. >> this is all about washington. i think people get worried. even what we said about the employment report that is history at that stage. the longer this goes on the more uncertainty it causes and uncertainty is toxic for the markets. it causes people to hesitate to make decisions. i don't think we'll default on the u.s. debt. even in a worse case scenario. that could happen. the treasury secretary will...
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May 28, 2023
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technically they could just suspend the debt ceiling. the money has already been borrowed and spent. deficit hawks say the nation's debt at a staggering $31 trillion is much too high and right now lifting the debt ceiling is the only way discussions about curbing future spending can actually take place. of course those talks normally happen during the budget process, but, as we all know, it's no secret congress is not functioning as normal. for now the debt ceiling brinksmanship continues. >> sure does. julie tsirkin,n, thank y you ve much. appreciatete it. >>> u up next, willie's "sunday sitdown" with melissa mccarthy on a new generation of fans for "gilmore girls" and landing her new job in the new verse of "the little mermaid." and "a life well lived," the quadriplegic athlete who defied the odds in more than 1,000 races from 5ks to iron man. the member of the 3rd u.s. infantry regiment placing flags. more than 1,000 service members laying those fla on 270,00000 laying those fla on 270,00000 gsgs [stomamach growlining] it's n nothing.
technically they could just suspend the debt ceiling. the money has already been borrowed and spent. deficit hawks say the nation's debt at a staggering $31 trillion is much too high and right now lifting the debt ceiling is the only way discussions about curbing future spending can actually take place. of course those talks normally happen during the budget process, but, as we all know, it's no secret congress is not functioning as normal. for now the debt ceiling brinksmanship continues....
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Jul 31, 2011
07/11
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this debt ceiling cloud has harmed our economy. why on earth would we want to go through this again a few short months from now? >> so it has to be through 2012? >> for the economy, number one. number two, we want to make sure that if there is an enforcement mechanism -- and again, the committee is not going to be charged with just doing spending cuts only. the committee will be charged at looking at our entire deficit reduction problem and look at things like tax reform and revenue. you want something to compel this committee to act. that was part of the president's approach that he laid out for the country a few months ago, that there would be a debt cap that would enforce action. so, you want to have something that will compel both parties to act, because i do think there is going to be a lot of pressure on this committee to produce something congress can vote on. >> but a lot of people watching are wondering what's actually going on today, what is the fighting about? so, first stage, you cut government spending over a ten-year
this debt ceiling cloud has harmed our economy. why on earth would we want to go through this again a few short months from now? >> so it has to be through 2012? >> for the economy, number one. number two, we want to make sure that if there is an enforcement mechanism -- and again, the committee is not going to be charged with just doing spending cuts only. the committee will be charged at looking at our entire deficit reduction problem and look at things like tax reform and...
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May 22, 2023
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the debt ceiling somebody is not getting paid. janet yellen says june 1st the u.s. will stop paying out money promised. we'll have more details in a second. president biden landing back at the white house, cutting that asian trip off early, disappointing allies, but returning today to conduct face-to-face negotiations with republican leaders. by now everybody should know the positions of the two sides, president biden says the u.s. should honor its debts, pay its bills, no conditions. the same way you don't put conditions on your credit card payment or mortgage payment. you promise to pay, you spent their money, you pay. raising the debt ceiling allows the government to borrow money it has already promised to pay for things it already bought. republicans say they won't raise the debt ceiling without new cuts in government trending. now, a lot of people think the government overspends and it's absolutely true. the government does spend more money than it brings in. pretty much no matter who is president, all the way back to bill cl
the debt ceiling somebody is not getting paid. janet yellen says june 1st the u.s. will stop paying out money promised. we'll have more details in a second. president biden landing back at the white house, cutting that asian trip off early, disappointing allies, but returning today to conduct face-to-face negotiations with republican leaders. by now everybody should know the positions of the two sides, president biden says the u.s. should honor its debts, pay its bills, no conditions. the same...
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Jan 21, 2013
01/13
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the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term, it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people were nervous in december. they're coming back in to stocks. that's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit
the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going...
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Apr 10, 2011
04/11
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the debt ceiling is something that has to be raised every once in a while. it's something the speaker of the house, john boehner, has said if we didn't raise it would bring a financial disaster both in this country and around the world. economist after economist have said it would raise interest rates, it could wreak havoc on the housing market, on the economy. it could be a catastrophic failure for the united states economy if we didn't raise -- >> here's the thing, senator, she called it armageddon. >> well -- >> what do you do to prevent that? not a lot of confidence the way this went. >> the speaker of the house was right, we need to act like adults in this. mitch mcconnell, harry reid, eric cantor, john boehner, all the leaders have said we have to raise the debt limit, so we're going to. but in that process, we should be able to reduce the deficit. so, we should not be playing brinksmanship with a full faith and credit of the united states of america. so, of course we're going to do that, but what we need to do at the same time, in the months ahead, is
the debt ceiling is something that has to be raised every once in a while. it's something the speaker of the house, john boehner, has said if we didn't raise it would bring a financial disaster both in this country and around the world. economist after economist have said it would raise interest rates, it could wreak havoc on the housing market, on the economy. it could be a catastrophic failure for the united states economy if we didn't raise -- >> here's the thing, senator, she called...
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Oct 20, 2013
10/13
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at the last hour the house and senate passed a bill to extend the debt ceiling. it can be the bill but only until february 7th. the government will stay funded until january 17th. the spending cuts of the sequester stay in place. the markets like the deal and by thursday the s&p 500 closed at an all time high. general electric beat analysts expectations. the revenue fell short. ibm's revenue missed and the stock was down. financial companies reporting earnings include citi which fell short of estimates. goldman beat estimates. washington managed to step back from the near crisis it created but we may have to do the same thing all over dpagain in a few months. what impact does this have on the markets? joining me is komal sri-kumar. thank you for joining us. we had a report out this week from standard and poors which said it will probably take about half a percent out of gdp as a result of shutdown. what are you expecting? how much damage has been done to the economy as a result of the shutdown and the threat of default? >> i think it's significant in terms of the
at the last hour the house and senate passed a bill to extend the debt ceiling. it can be the bill but only until february 7th. the government will stay funded until january 17th. the spending cuts of the sequester stay in place. the markets like the deal and by thursday the s&p 500 closed at an all time high. general electric beat analysts expectations. the revenue fell short. ibm's revenue missed and the stock was down. financial companies reporting earnings include citi which fell short...
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Oct 17, 2013
10/13
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nothing says the president is raise the debt ceiling. it's kind of the best choice of two bad options. >> finally, a congressional deal takes flight hours before a deadline to raise the debt ceiling or suffer the first default in u.s. history. >> but in the end, political adversaries set aside their differences and disagreements. >> before we go patting ourselves on the back, these principal players are likely going to be riding the same political carousel in a few months. >> it's a difficult situation. it's hard to see how we're going to git out of this moving forward in a way that's healthy and constructive. all we're talking about now is let's kick the can down the road for two months. >> some u.s. policy think tankers like saul jack man of the brookings institution say the president should raise the debt ceiling himself next time should it come to that. >> has this ever happened in the history of our government, has the president ever unilaterally raised the debt ceiling? >> never to raise it directly. there's no precedent of the eme
nothing says the president is raise the debt ceiling. it's kind of the best choice of two bad options. >> finally, a congressional deal takes flight hours before a deadline to raise the debt ceiling or suffer the first default in u.s. history. >> but in the end, political adversaries set aside their differences and disagreements. >> before we go patting ourselves on the back, these principal players are likely going to be riding the same political carousel in a few months....
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Jan 14, 2013
01/13
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on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at all about extending the bush tax cuts. what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. now, you can argue that during the campaign i said -- i set the criteria for wealthy at 250 and we ended up being at 400, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as i said. so from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class, and my biggest priority was making sure the middle class
on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at...
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Oct 8, 2013
10/13
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he is not going to start negotiating until after the shutdown ends and after the debt ceiling. of course, it's going to be a lot of questions here today. we expect questions about health care, but also the story, of course that, we've been following very closely, the fact that the shutdown's latest victims and that is the families of military members who have been killed and didn't get their death benefits because of the way this shutdown works, so there's a lot of questions the president is going to be peppered with today, and we expect him to be commenting on a lot of them, but the specific point that the white house wants to make today, natalie, is on this issue of what their stance is and what they're willing to give when it comes to opening up the government and raising that >> and, chuck, you talked about the family members of the military service members not receiving their death benefits. we learned since it is 17 service members and their families who have not received the benefit, so a lot of anger boiling over at this point. here's the president walking in now, and l
he is not going to start negotiating until after the shutdown ends and after the debt ceiling. of course, it's going to be a lot of questions here today. we expect questions about health care, but also the story, of course that, we've been following very closely, the fact that the shutdown's latest victims and that is the families of military members who have been killed and didn't get their death benefits because of the way this shutdown works, so there's a lot of questions the president is...
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Jun 2, 2023
06/23
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the senate last night voted to raise the debt ceiling. much to the relief of almost everyone. >> scott, we came very close to a default. >> very close. we're still in a little bit of a danger zone. the treasury right now is still doing all kinds of crazy accounting trying to make sure we pay our bills on time. so even this morning, something about counting chickens and all that. but the houses, both houses, have voted to raise the debt ceiling with the senate voting 33-36. they raised the debt ceiling for two years, taking the issue out of the next presidential cycle, while cutting some spending and expanding some work requirements for food stamps. remember, this was a bipartisan deal, a compromise. but senate majority leader chuck schumer still spiked the ball. >> so many of the destructive provisions in the republican bill are gone because we persisted and we kept insisting that default is off the table, we will not be defaulting and we will not be passing the right agenda. >> the president will speak about the deal at 4:00 this afterno
the senate last night voted to raise the debt ceiling. much to the relief of almost everyone. >> scott, we came very close to a default. >> very close. we're still in a little bit of a danger zone. the treasury right now is still doing all kinds of crazy accounting trying to make sure we pay our bills on time. so even this morning, something about counting chickens and all that. but the houses, both houses, have voted to raise the debt ceiling with the senate voting 33-36. they...
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Jul 17, 2011
07/11
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tim pawlenty saying he hopes and prays that there's no vote to raise the debt ceiling. chris: he may be praying next year about running. >> and no way she would approve. i think it will come up. >> but the debt issue will stay. chris: all of the stuff we're fighting about will be hot this year. >> even if this is destroyed, he can resubmit a $1.4 trillion deficit reduction package. >> and vote. chris: before we break, it's nothing new for republicans to run against demiped of tax, of course. way before the tea party put the t in taxes, they learned george w. bush, 41 read my lips was a big mistake and good lesson for them not to say things like that. bush, of course, was forever dogged by that broken promise and "saturday night live" ridiculed his contortions trying to get right with the republican base. >> president bush, during your term the deficit has grown by almost a trillion dollars. >> i know. >> andestly now, don't you feel some kind of tax hike will be needed to reduce the deficit. >> jane, the answer is no. i will never raise taxes again and i may never, neve
tim pawlenty saying he hopes and prays that there's no vote to raise the debt ceiling. chris: he may be praying next year about running. >> and no way she would approve. i think it will come up. >> but the debt issue will stay. chris: all of the stuff we're fighting about will be hot this year. >> even if this is destroyed, he can resubmit a $1.4 trillion deficit reduction package. >> and vote. chris: before we break, it's nothing new for republicans to run against...
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Jan 19, 2023
01/23
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would have to take these measures to avoid crashing into the debt ceiling. a limit on how much money the u.s. can borrow to pay for things it's already decided to spend money on. things like social security and paychecks for the u.s. military. if congress does not raise the debt ceiling, america won't pay its bills and that situation could come as soon as june. we don't know exactly what that would look like because it's never happened before. but these bills are things like social security checks. the issue is so important, presidents from both parties have asked congress please don't use the debt ceiling as a negotiating ploy. here's president trump in 2019 saying to democrats, do not risk the faith and credit in america to try to get something you want. >> when you start talking about using the debt ceiling as a wedge to negotiate or things that they want, they have told me very strongly they would never use that. that's, that's a very, very sacred thing in our country. debt ceiling. we can never play with it. >> now the shoe's on the other foot. the pres
would have to take these measures to avoid crashing into the debt ceiling. a limit on how much money the u.s. can borrow to pay for things it's already decided to spend money on. things like social security and paychecks for the u.s. military. if congress does not raise the debt ceiling, america won't pay its bills and that situation could come as soon as june. we don't know exactly what that would look like because it's never happened before. but these bills are things like social security...
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Apr 12, 2011
04/11
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congress will have to raise the debt ceiling. if it doesn't, the u.s. would default on its obligations. the economy would spiral downward. some say we would hit a recession again. this year, republicans are saying they're not going to vote to raise the debt ceiling unless there are major cuts with it. but they're saying it's wrong to use those cuts as political leverage. >> the consequence of not raising the debt ceiling would be like armageddon. it would be devastating. on job creation, on growth. >> as the administration makes the argument, it has one political problem, back in 2006, then-senator barack obama voted against raising the debt ceiling. that's a vote his spokesperson said today that was a mistake. he plans to make a speech on cutting the deficit on wednesday. >> thanks. >>> we turn back overseas for a moment. it's not been one month to the day since that 9.0 earthquake, the devastating tsunami hit northern japan. and that, of course, triggered a nuclear emergency, still far from over. today, a strong aftershock that killed at last two peop
congress will have to raise the debt ceiling. if it doesn't, the u.s. would default on its obligations. the economy would spiral downward. some say we would hit a recession again. this year, republicans are saying they're not going to vote to raise the debt ceiling unless there are major cuts with it. but they're saying it's wrong to use those cuts as political leverage. >> the consequence of not raising the debt ceiling would be like armageddon. it would be devastating. on job creation,...
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May 28, 2023
05/23
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the urgent holiday weekend work to get a debt ceiling deal as the speaker and the president speak tonight. lawmakers sounding optimistic but time is running out. a new deadline gives negotiators some breathing room but no sigh of relief yet from mortgages to medicare, millions would be impacted if a deal is not reached. >>> texas showdown accused of widespread ethics breaches, the state's attorney general impeached tonight. he's set to be suspended as the republican civil war breaks out >>> out west, the tornado threat emerging tonight a gathering storm in ukraine as troops prepare for an imminent counteroffensive our reporting on the ground >>> trouble on the home front why the nation's biggest insurer will no longer offer new property policies in california the climate crisis and more pinching homeowners what you need to know. >>> the stunning new video of a pod of killer whales striking and paralyzing another boat in the water. the sailors terrified. what's behind the rash of attacks. >>> and secrets of the tititanic. the untold storieses and whwho really i inspired one of the most ico
the urgent holiday weekend work to get a debt ceiling deal as the speaker and the president speak tonight. lawmakers sounding optimistic but time is running out. a new deadline gives negotiators some breathing room but no sigh of relief yet from mortgages to medicare, millions would be impacted if a deal is not reached. >>> texas showdown accused of widespread ethics breaches, the state's attorney general impeached tonight. he's set to be suspended as the republican civil war breaks...
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May 2, 2023
05/23
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biden said he'd only agree to a debt ceiling increase with no other strings attached earlier today the president and speaker appeared no closer to making a deal. >> we pay our bills and should do so without hostage taking from some of the maga republicans in congress >> we will not pass the debt ceiling if it just raises it without doing something about our debt >> reporter: this new letter from the treasury secretary brings with it a new level of urgency there are only eight days where the house and senate are both in session before they hit that deadline. the u.s. has never defaulted on its debt, and if it were to, financial analysts say it could lead to an economic catastrophe. lester >> ryan nobles, thank you. >>> in illinois, authorities say multiple people are dead and dozens injured on a highway in the aftermath of a huge dust cloud. jesse kirsch has late details for us >> reporter: tonight, this highway dust storm turning deadly in illinois. state police say dozens of vehicles crashed on a highway south of the state capital this morning. >> the cause of the crash is due to exce
biden said he'd only agree to a debt ceiling increase with no other strings attached earlier today the president and speaker appeared no closer to making a deal. >> we pay our bills and should do so without hostage taking from some of the maga republicans in congress >> we will not pass the debt ceiling if it just raises it without doing something about our debt >> reporter: this new letter from the treasury secretary brings with it a new level of urgency there are only eight...
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May 29, 2011
05/11
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it is on the table in the discussions related to the debt ceiling. >> but not in its current form. if it passes as part of the debt ceiling vote, it's got to be different, does it not, than the ryan plan? >> as you pointed out from my comments in the lead-in, the democrats have no plan at all. we have four votes in the senate -- >> fair enough, but if there is going to be a debt ceiling on the medicare reform, would you concede it's got to look a lot different than the ryan plan? >> no. it's on the table. we're going to discuss what ought to be done. everybody agrees something ought to be done except the democrats in the senate who have no plan at all. >> but you're not even -- you haven't even said publicly whether you're for the ryan plan. so you're not behind that version of medicare reform. >> i voted for the ryan budget this week. >> you didn't whip up your colleagues, though, to get additional support. >> we had different versions in the senate. we had a republican senator in the senate, had a plan, senator paul had a plan. the only people who didn't vote for any plan at all
it is on the table in the discussions related to the debt ceiling. >> but not in its current form. if it passes as part of the debt ceiling vote, it's got to be different, does it not, than the ryan plan? >> as you pointed out from my comments in the lead-in, the democrats have no plan at all. we have four votes in the senate -- >> fair enough, but if there is going to be a debt ceiling on the medicare reform, would you concede it's got to look a lot different than the ryan...
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Apr 20, 2023
04/23
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not raising the debt ceiling means the country would default on its debt for the first time in history. here's the president's response. >> the threat of defaulting on america's debt, the first time in 230 years. we have never ever defaulted on a debt and it would destroy the economy. who do you think will hurt the most? you, the hard-working middle class. not the super or powerful, but you folks. >> and you know who agrees with president biden? former president trump. nancy pelosi, the then speaker of the house, just like mccarthy is now, had conditions before she would bring a vote to raise the debt ceiling to the floor. "the washington post" described it this way. pelosi said the idea of raising the debt ceiling on its own and not in conjunction with a budget agreement was not acceptable to our caucus and did not stand passage, and just like today, the full faith and credit is being held over the united states, looking to get something out of it. >> when they start talking about using the debt ceiling for things they want, they have told me very strongly they would never use that. t
not raising the debt ceiling means the country would default on its debt for the first time in history. here's the president's response. >> the threat of defaulting on america's debt, the first time in 230 years. we have never ever defaulted on a debt and it would destroy the economy. who do you think will hurt the most? you, the hard-working middle class. not the super or powerful, but you folks. >> and you know who agrees with president biden? former president trump. nancy pelosi,...